WOMENLINK II Catalyzing Women's Economic Empowerment through Community Agents and Expansion of Digital Financial Services to Low-Income Women ...
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
WOMENLINK II
Catalyzing Women’s Economic
Empowerment through Community
Agents and Expansion of Digital Financial
Services to Low-Income Women
Table of Contents
List of Acronyms 1
Executive Summary 2
1. Background 3
1.1 The Role of Financial Services Access In Economic Empowerment and Resilience-Building 3
1.2 Philippines’ Unique Opportunity: Tapping Women to Drive Financial Access and Usage 3
1.3 Grameen Foundation’s Approach: Leveraging Technology, Agent Networks and Partnerships 4
2. WomenLink II Philippines Program Overview 5
2.1 The Womenlink II Program and Broader Developmental Alignment 5
2.2 The Problem We’re Trying to Solve: Low Usage of (Digital) Financial Services Among Low-Income Women 6
2.3 The Solutions We’ve Implemented: Digital Financial Literacy Campaign and Agent Professionalization 6
3. WomenLink II Phase I: Understanding Usage Barriers and Implementing Digital Financial Literacy 7
3.1 Phase I Implementation Summary 7
3.2 Usability Research and Results 9
3.3 Digital Financial Literacy Development and Deployment 10
3.4 Phase I Monitoring, Evaluation and Learning 11
4. WomenLink II Phase II: Digital Agent Professionalization Training 12
4.1 Phase II Implementation Summary 12
4.2 Agent Training Content Development 13
4.3 Digital Agent Professionalization Module Deployment and Network Expansion 14
4.4 COVID-19 Liquidity Support 15
4.5 Phase II Monitoring, Evaluation and Learning 17
5. Recommendations: Integrated Agent Network Support Services 20
6. Going Beyond WomenLink II: The Case for Agent Network Management (ANM) Services 22
Acknowledgments 25
List of Acronyms
Agent Network Manager ANM
Agent Network Management System ANMS
Bankers without Borders BWB
Community Agent Network CAN
Coronavirus Disease 2019 COVID-19
Digital Financial Services DFS
Enhanced Community Quarantine ECQ
Facebook FB
Financial Service Provider FSP
Focus Group Discussions FGD
Grameen Learning Application G-LEAP
Know Your Customer KYC
Information and Communication Technology ICT
Monitoring and Evaluation M&E
Microfinance Institution MFI
Mobile Network Operator MNO
Non-Government Organization NGO
Project Officers PO
Revolving Credit Facility RCF
Sustainable Development Goals SDG
St. Elizabeth Community Development Program SECDEP
Short Message Service SMS
Small and Medium-Sized Enterprises SME
1 Grameen Foundation
Executive Summary
In 2018, Grameen Foundation in partnership with Wells Fargo launched the WomenLink II Program in India and
the Philippines. The WomenLink II Program in the Philippines picks up where Grameen left off in 2017 with the
Community Agent Network Program, which aimed to improve access to financial services by building a last-mile
agent network that delivers digital financial services in unserved and underserved rural communities. The goal
of the WomenLink II Program is to catalyze economic empowerment by continuing to expand the footprint of the
community-based agent network and to drive usage of financial services through digital financial platforms. To
achieve this, the three-year program was implemented in two phases that address the demand and supply side
barriers hindering the usage of digital financial services (DFS). Phase I, focusing on the demand side barriers,
was implemented in 2018-2019 (Year 1 and Year 2), while Phase II, which addressed the supply side barriers, was
conducted in 2019-2020 (Year 2 and Year 3).
The Phase I of WomenLink II focused on addressing the demand-side barrier of low uptake of financial products
and services due to low financial literacy and lack of trust in financial products and services. To establish client
trust and improve low-income women’s awareness and understanding of financial products and services,
Grameen implemented a financial literacy campaign that was delivered remotely through short message service
(SMS). Within the 24-month implementation of the SMS financial literacy campaign, over 40,000 women
received relevant and actionable messages containing information on basic financial products (savings, loans
and insurance), money management tips, and digital financial services that they can avail. WomenLink II Phase
I resulted in a positive behavior change in savings practices; 30% of the women started saving and averaged
amounts saved grew 142%. There was also a 26% increase in the number of women who started transacting
with community-based agents for bills payment. Overall, the perception of the SMS-based information push
campaign was favorable; 95% of the women reported that the messages they received were relevant and that
they were applying what they learned in managing their household budget.
Phase II of WomenLink II aimed to address the supply-side barrier of low business viability for community-based
agents due to lack of capacity to manage their business efficiently (i.e. liquidity mismanagement, ineffective
marketing of products and services to clients) which consequently results in low revenues. Grameen developed
e-learning modules for agents delivered through two digital learning platforms (Facebook and the Grameen
Learning Application or G-LEAP) to help build agents’ knowledge on digital financial products and services, and
their capacities on business management and product marketing. Grameen reached 849 agents through the
digital learning platforms. While the initial objective of Phase II was to measure the impact of the e-learning
modules, the onset of the COVID-19 pandemic in the Philippines severely affected agents’ businesses as
enforced lockdowns resulted in diminished transactions, illiquidity, and lack of time for the agency business due
to the increasing demand for women’s time at home, as work and school transition online and became home-
based. Remote training became the least priority of women as their businesses were threatened by the economic
effects of the pandemic and this was evident in the minimal uptake of the learning modules. Grameen refocused
the program to understand the critical needs of agents in order for them to stay in business. Part of this pivot was
the disbursement of COVID-19 liquidity support in order to provide agents with working capital so that they could
continue to make their services available to their community.
Key recommendations gained from Phase II point to the need for a more holistic suite of support services for
agents that address their critical needs such as technical and troubleshooting support, access to financial
services for their business, use case expansion for DFS and monitoring and evaluation of agent network
operations. The final section of this report summarizes the opportunities and value proposition for a third-party
agent network manager in delivering these vital agent support services. Grameen concluded the WomenLink
II Program by conducting preliminary research to understand the business case for an agent network manager
in the Philippines in order to ensure the sustainability of DFS provision especially in unserved and underserved
communities.
Grameen Foundation 2
1. Background
1.1 The Role of Financial Services Access in Economic Empowerment and Resilience-Building
Financial inclusion has been recognized as a key enabler in the achievement of inclusive economic growth
and poverty reduction as evidenced by a growing body of research and program outcomes.i Lessons learned
in developing economies prove that broader access to and participation in financial systems enable people,
especially women, to better manage risks and smoothen consumption, to start accumulating and growing their
assets, and to invest in things that improve their quality of life such as education and home improvement.ii
Despite the benefits of financial products and services, they remain inaccessible to vast segments of the
population, particularly low-income households.iii Low-income men and women face barriers to inclusion such as
lack of access to proximate transaction points, lack of money and assets sufficient to start transacting with
formal institutions, lack of identification documentation, and the high transaction fees imposed by many financial
service providers (FSPs).iv This locks them in a cash-based system, which exposes them to higher costs and risks,
with fewer protections and less recourse for redress. It can also be inefficient and time-consuming especially for
those living in rural areas who may need to travel all day just to get to the nearest town where brick and mortar
financial access points are usually located.
Digital financial services (DFS) and community agent networks have the potential to address these access barriers
to reach the financially excluded and underserved segments. The value proposition of DFS continues to improve
as mobile phones become more ubiquitous; as providers continue to innovate financial products, services, and
delivery channels relevant to low-income consumers; and as governments and industry stakeholders continue to
define and balance regulation surrounding the risks and the rewards from digitizing financial services. Meanwhile,
innovative agent network models have continued to extend access and have seen improved viability in rural
areas.v Agent networks help facilitate uptake of digital financial products and services among low-income people
whose capacities to independently utilize and benefit from these technologies are lagging.
1.2 Philippines’ Unique Opportunity: Tapping Women to Drive Financial Access and Usage
Women disproportionately experience poverty and in many developing countries, they are more financially
excluded than men are.vi In contrast, the Philippines presents opportunities to target women in order to drive
financial access and usage further because the financial and mobile gender gap both favor women. Opportunities
exist at two levels:
• Women as financial customers: Filipino women are more financially included than men and their role as
household budget managers position them as the primary customer. About 37.9 percent of Filipino women
own a formal account either at a financial institution or a mobile account, compared to only 24.4 percent
account ownership among men.vii Filipino women’s usage of financial products are higher than men by 3.71
percentage point difference in borrowing from a formal institution and 2.26 percentage point difference in
savings.viii More women use remittance services and they are mostly at the receiving end of government aid
and cash transfers. Social, cultural, and behavioral factors contribute to women’s greater financial access to
and use of financial services in the Philippines. Traditional Filipino households give women the responsibility
of managing household financial matters with 97% of women deciding either independently or jointly with
their spouse how their household budget is spent.ix Local microfinance institutions cater largely to low-
income women due to their role in handling the family finances and as such, it is also mostly women who
receive financial literacy, money management and investment training by these institutions.x
• Women as financial access providers: With the high mobile phone penetration and internet usage in
the country, the Philippines has long demonstrated a potential for expanding financial access through
digital services, albeit much of it has not been realized. The gender gap in mobile phone ownership is three
3 Grameen Foundation
percentage points higher than men and there are also more women than men who use mobile phones to pay
bills and send money (though mobile transactions remain low in general).xi Moreover, low-income women
with access to microfinance are able to engage in microbusinesses, the most common of which are sari-
sari stores (small sundry stores), found in almost every neighborhood. The ubiquity and penetration of
these microbusinesses even in rural and remote areas point to the value proposition of leveraging these as
potential access points to reach financially unserved and underserved customers.
With the instrumental role of women as home budget managers, their headway on mobile phone usage and their
engagement as micro entrepreneurs, targeting women’s increased uptake and usage of DFS presents a prospect
worth exploring in the endeavor to reach financially excluded households.
1.3 Grameen Foundation’s Approach: Levering Technology, Agent Networks and Partnerships
In line with its mission of empowering the poor women and strengthening their resilience to help them live a
life without poverty and hunger, Grameen Foundation (Grameen) has been working towards improving women’s
financial access and usage in the Philippines since 2014. Grameen’s approach incorporates three key elements
to deliver targeted and appropriate solutions to the communities it aims to serve.
1. Data and technology. Data gathering, research and analysis is done to understand people who live in
poverty, the local ecosystem that surrounds them and the barriers that keep them poor. Based on findings
from research and analysis, data-rich solutions are converted into functional technology (low-tech or no-tech
applications) relevant to excluded communities and populations to overcome barriers. Taking into account
the underdeveloped infrastructure that is often present in rural and low-income areas, Grameen leverages
digital tools that do not depend on internet access and instead relies on community-based agent networks.
2. Community agent networks. While digital solutions can
give the poor access to formal market systems, many poor
populations are unable to utilize technologies due to barriers
such as low literacy, lack of technology access, and distrust
of products and services they do not understand. Community
agent networks help overcome these barriers. Agents are
recruited from underserved communities, provided with
digital devices and trained to provide wireless connectivity
and services to local customers. Agents serve as alternative
banking access points and provide hands-on transaction
support for people who may be unfamiliar with or unable to
use DFS. Grameen builds trusted and professional community-
based agent networks while empowering women to start new
income-generating activities as agents.
3. Strategic partnerships. Grameen engages various sector stakeholders in developing business models
that ensure the sustainability and growth of agent networks. Grameen partners with organizations such as
microfinance institutions (MFIs), mobile network operators (MNOs), and fintechs to recruit, train, equip and
manage community agent networks in order to create an eco-system of support from the local industry.
Grameen also facilitates partnerships with local merchants and other entities that are vital in unlocking new
markets and use cases for DFS transactions beyond cash-in/cash-out services. This contributes to improving
the viability of agents’ and fintechs’ business as onboarding more small and medium-sized enterprises (SMEs)
and local businesses enable agents to participate in e-commerce opportunities. Establishing synergies
between private sector, local government and civil society is an essential part of Grameen’s work as it helps
to broaden learning and knowledge sharing, mobilize complementary resources, expand the business case
and market usage of DFS, and shape policy and regulation in order to reach developmental goals.
Grameen Foundation 4
Figure 1
How the Grameen Foundation Model Works on the Ground
Provide access to
training curriculum Recruit, manage,
and digital learning Grameen identifies women monitor, and
tools or platforms community members, support agents
P equips them with mobile
technology and trains
them to serve their
local community.
Industry stakeholder
Research, data analysis Community-based partnerships
and technology agent networks
Grameen partners with
Grameen conducts Provide access to businesses, government,
research and analysis to information and a and civil society to work
understand the barriers to Mobile Bill Payment
suite of relevant together to support the
inclusion and develop products and growth and sustainability
relevant and appropriate services of agent networks
digital solutions.
Money Transfer
P
Digital Banking
Financially unserved and
underserved communities
2. WomenLink II Philippines Program Overview
2.1 The WomenLink II Program and Broader Developmental Alignment
In December 2017, Grameen and Wells Fargo, a Fortune Global 500 financial services company, launched the
WomenLink II Program in the Philippines and India. WomenLink II is a three-year program with the goal of catalyzing
economic empowerment by improving women’s access to and usage of financial services through the use of
digital financial platforms delivered through mobile-enabled, community-based agents.
The WomenLink II Program aligns closely with Wells Fargo’s corporate responsibility priority on the economic
empowerment of local communities, which focuses on strengthening individuals’ and small businesses’ financial
self-sufficiency and improving their economic opportunities. Moreover, the WomenLink II outcomes contribute
to the Sustainable Development Goals (SDGs) on poverty elimination, gender equality and decent work and
economic growth.
Table 1
Sustainable Development Goals Targets and WomenLink II Program Alignment
Sustainable Development Goals Targets WomenLink II Program Alignment
No Poverty - Build the resilience of the poor and reduce WomenLink II implemented a digital financial literacy
their exposure and vulnerability to economic shocks campaign targeted at women to increase their understanding
and, environmental disasters.xii of the value and potential impact of DFS in improving their
financial lives.
Gender Equality – Enhance the use of enabling WomenLink II leveraged DFS and strategic partnerships with
technology, in particular information and financial technology companies (fintechs) to bring financial
communications technology, to promote the service access points closer to underserved and unserved
empowerment of women.xiii women and their communities.
Decent work and Economic growth - Support WomenLink II expanded female agent networks and
productive activities, decent job creation, strengthened the capacity of agents to operate professional
entrepreneurship, creativity and innovation, and enterprises.
encourage the formalization and growth of micro-,
small- and medium-sized enterprises, including
through access to financial services.xiv
5 Grameen Foundation
2.2 The Problem We’re Trying to Solve: Low Usage of (Digital) Financial Services Among
Low-Income Women
The WomenLink II Program built on the Community Agent Network (CAN) Program implemented in 2015 to 2018
by Grameen Foundation and partners. The CAN program improved access to reliable alternative FSPs nationwide
by establishing a telco-agnostic network of micro and small neighborhood shops that provide DFS services in
underserved rural communities.xv While building the agent network is a necessary first step, driving active and
sustained usage of alternative FSPs by low-income women and their households requires addressing key barriers
to uptake and usage. Lessons learned from CAN, as well as from Grameen’s experience in implementing agent
networks, point to both demand- and supply-side challenges that need to be overcome in order to drive further
uptake of DFS.
• Demand side challenge of lack of awareness and trust by customers: Customers’ low uptake is due
to their apprehension toward unfamiliar digital transactions. Most low-income women do not transact via
digital methods because they do not have functional knowledge on how it works, nor do they realize the value
that DFS (i.e. monetary and time savings) can bring them. There is a lack of readily available, relevant, and
easily understandable information on financial products and digital delivery channels, and this contributes to
the obscurity of digital financial interventions when they are introduced in rural communities where people
often have lower financial and digital literacy levels compared to those in urban areas. Moreover, customers’
awareness of risks involved in digital transactions such as fraud, scams and theft compounds distrust in the
system.
• Supply-side challenge of lack of business viability for agents: With little understanding of the system
and trust by potential users, the viability of the agent’s business is at risk. Agent inactivity remains a critical
challenge in DFS provision. Inactivity from providing services may be temporary or long term and it can be due
to a confluence of reasons. Low DFS sales volumes and income discourages continued provision of service,
considering agents often have other sources of income (i.e. sari-sari stores) to which they can reallocate
their resources. Agents also report difficulty in managing cash and e-money liquidity, which can be due to
lack of capital, lack of information on when volumes would be high or low, or the impracticality of topping-up
in distant markets. Both of these leave agents unable to conduct some transactions and it can decrease
their reliability from the perspective of customers. Lastly, unreliable ICT infrastructures can hinder business
operations, especially in rural and remote areas, where immediate user support systems are lacking and
workarounds are not in place.
WomenLink II picked up where CAN left off with the next step heading towards piloting solutions to tackle these
barriers so that the Filipino households are able to realize the economic value that DFS platforms can offer.
2.3 The Solutions We’ve Implemented: Digital Financial Literacy Campaign and Agent
Professionalization
Through the WomenLink II Program, Grameen set out to develop and implement tools that seek to address both
the supply- and demand-side challenges hindering DFS usage. WomenLink II was implemented in two phases,
which correspond to the two digital solutions that Grameen and Wells Fargo set out to test over the course of its
three-year implementation from 2018 to 2020. Phase I, focusing on the demand side barriers, was implemented
in 2018-2019 (Year 1 and Year 2), while Phase II, which addressed the supply side barriers, was conducted in
2019-2020 (Year 2 and Year 3).
• Phase I: Digital financial literacy campaign: On the demand side, low-income women who are prospective
customers of DFS were provided with financial knowledge on DFS and money management through short
message service (SMS). The objective of the financial literacy program for women clients was to broaden
understanding of DFS and its relevance to women’s common economic goals and family welfare concerns in
order to encourage uptake and usage.
• Phase II: Digital agent professionalization training: On the supply side, small business agents offering
DFS were provided with agent professionalization training through digital learning platforms in order to help
improve the operations, and consequently increase the income they derive from their DFS business. The
training modules aim to raise the quality of customer service offered by the agents as well as equip them
with additional knowledge on how to effectively manage their DFS business.
Grameen Foundation 6
Figure 2
WomenLink Program Implementation: Targeting Both Demand And
Supply Side Barriers to DFS Uptake and Usage Among Low-Income Women
Identified Barrier WomenLink Component Target Outcome
Demand-side barrier: Component 1: Digital Low-income women
Low uptake and lack of financial literacy start availing of (digital)
P trust of FS and DFS by
low-income women
campaign delivered
through SMS
financial products and
services and realize
benefits (i.e. savings
and convenience)
Customers
Supply-side barrier: Component 2: Women agents improve
Lack of agency busi- Agent professionalization operations and out-
P
ness viability for DFS training delivered through comes of DFS business
women agents online and offline digital (i.e. transaction volume
platforms and income)
Agents
The case for agent network management innovation and business model: While WomenLink II Phase II
focuses on agent professionalization through digital training, ensuring that agent networks are able to deliver
quality service to clients requires investments by agent network owners and/or managers (e.g. fintech partners,
telecommunications companies) not only in capacity
building training for their agents on critical topics,
such as product knowledge, efficient transaction
processes, customer relationship management,
liquidity management, and company and regulatory
standard guidelines. Equally crucial in the success
of agent networks is the continued provision of
functional and responsive support services that
agent network owners and managers can offer such
as technical and troubleshooting support, grievance
and redress systems, infrastructure and network
improvement, and continuous training and business
growth. As such, Grameen also explored how these
functions can be supported through the data and
insights gained from the program during phase II.
3. WomenLink II Phase I: Understanding Usage Barriers and
Implementing Digital Financial Literacy
3.1 Phase I Implementation Summary
Low digital and financial literacy inhibit uptake and habitual use of digital channels among low-income women and
in effect, women might have access to financial products but do not effectively use them to reap their benefits.
The objective of WomenLink II Phase I was to catalyze trust in financial products, services and digital delivery
channels through information dissemination and knowledge building among low-income women.
7 Grameen Foundation
Figure 3
Phase I Implementation Summary
PILOT DETAILS
DURATION LOCATION PROGRAM EDUCATIONAL 42,592
PARTICIPANTS ATTAINMENT RECIPIENTS OF DIGITAL
high school graduates 38 % FINANCIAL LITERACY
college graduates 28 % 21,184 in 2018
college level 14 % and 21,408 in 2019
Jan 2018 elementary graduates 8 %
to high school levels 7 %
Dec 2019
EMPLOYMENT
BULACAN
STATUS
stay-at-home wives or mothers 44 %
BATANGAS AVERAGE AGE regularly employed 26 %
39 YEARS self-employed 19 %
unemployed 11 % 97% MOBILE
PHONE OWNERS
AKLAN &
ANTIQUE 37,739 (87%) 71% SMARTPHONE
FORMAL ACCOUNT OWNERS OWNERS
(i.e. with MFI or banks)
AGUSAN
MOST COMMON
DEL NORTE
TYPES OF FINANCIAL SERVICES USAGE OF MOBILE
AVAILED PRE-PROGRAM PHONE:
Pre-WomenLink II Post-WomenLink II - SMS and phone calls
Utilities 88% 89% - Social media
Government Payments 5% 9% - Transactions
Others (insurance, 3% 3% - Etc.
school payments)
OBJECTIVE AND PROGRAM COMPONENTS
OBJECTIVE PHASE 1 PROGRAM ACTIVITIES KEY PARTNERS
Develop low-income clients’ USABILITY RESEARCH
knowledge and trust in financial Conducted usability research with women DFS clients to
products and services (including DFS) define barriers and stepping stones to increase usage
through information dissemination to Gathered data and insights to inform the content of the
reinforce greater uptake and usage of financial literacy messages
products offered by Grameen Shared research results with partners (fin-techs, mobile
Foundation’s partners money providers and banks) for industry learning COMMUNITY-BASED FINANCIAL SERVICE
PROVIDERS
DIGITAL FINANCIAL LITERACY CAMPAIGN Ahon sa Hirap, Inc. (ASHI )
Messaging content and digital campaign development: Agusan del Norte Teachers, Retirees, Employees and
Created message content that address the key information Community Cooperative (ANTRECCO)
gaps identified in the usability research Caritas Banco ng Masa (BNM)
Designed the delivery of simple, actionable information Opportunity Kauswagan Remit (OK Remit)
relevant to low-income women disseminated via SMS Nationlink
Explored other digital delivery channels to expand the reach St. Elizabeth Community Development Program (SECDEP), Inc.
of information dissemination
Digital financial literacy deployment: FINANCIAL TECHNOLOGY PARTNERS
Registered 42,592 women age 15+ into the WomenLink II Action.Able, Inc. - Developers of POSIBLE Box
program FSG Technology Ventures, Inc. - Developers of Digipay
Send bi-weekly SMS messages to enhance digital financial Application
literacy
USABILITY RESEARCH PARTNERS
Central Visayas Information Sharing Foundation, Inc. (CVISnet)
MONITORING, EVALUATION AND LEARNING Palompon Community Multi-Purpose Cooperative (PACCI)
Conduct baseline and endline surveys to monitor and in Leyte
evaluate the effect of the digital financial literacy Basey 1 District Multi-Purpose Cooperative (B1DMPC)
campaign to women recipients of SMS. in Eastern Samar
KEY RESULTS INFORMATION DISSEMINATED
POSITIVE BEHAVIOR CHANGE TOWARDS ADOPTION OF SAVINGS PRACTICES
30% of the women started saving TOTAL SMS SENT
65% of the women were saving during the first 6 months of receiving money 565,154
management advice (274,350 in 2018 and 290,804 in 2019)
Savings grew 142%. Average weighted savings per month increased from Php 711.85 14 messages were sent to each
to Php 1,012.50 (US$13.69 to 19.47)* registered participant:
Stretched 2-3 days to 21 days cash on hand spending 8 Financial management advice messages
6 Financial services and products information
INCREASED USAGE OF FINANCIAL SERVICES OFFERED BY PROGRAM PARTNERS
26% availed of utility bills payment through their cooperative
18% increased awareness on other services offered by the cooperative
FINANCIAL LITERACY TOPICS
FAVORABLE PERCEPTION OF SMS FINANCIAL INFORMATION P Basic financial products (savings and loans)
Digital financial services
95% said the messages are relevant and actionable Money management
96% said the tips on savings and budget management were very influential to their daily lives
Partner product promotions
98% said they are likely to apply the knowledge they gained into their lives
98% said that they would recommend the program to others
*Exchange rate as of 2018
Grameen Foundation 83.2 Usability and Research Results
In order to understand how the functionality of digital financial products and services affect low-income women’s
perception and usage of such platforms, Grameen kicked-off Phase I in March 2018 by conducting a usability
study. The usability research focused on defining the barriers and stepping-stones to uptake and trust of DFS by
conducting a series of interviews and customer usage tests of existing DFS platforms. Grameen partnered with
local financial service providers Ahon sa Hirap, Inc. (ASHI), Central Visayas Information Sharing Foundation Inc.
(CVISnet), and Nationlink to gather and enlist 50 of their women clients to participate in the study.
Research Methodology. The usability research tested six DFS platforms currently available in the market,
which were strategically selected to test a variety of DFS channels that leverage different delivery channels and
interfaces. Grameen facilitated eight usability testing sessions, each having between 4-8 women taking part in
the testing. Participant survey was used to gauge each of the participants’ initial knowledge of financial products
and services, and their ability to successfully operate various DFS platforms using mobile devices. Focus group
discussions (FGDs) were done to gain qualitative insights into the socio-economic profile of the women and
understand the role digital channels play in their financial lives. The research culminated with usability test
sessions facilitated by Grameen, which aimed to assess the women’s aptitude in making financial transactions
using DFS applications. The women were asked to perform three types of transactions using the one of the six
mobile financial applications selected: pay a bill, send money, and buy airtime top-up. A post-test interview was
also conducted to validate and provide depth to the observations made by the proctor. Participants were asked
to share their experience in performing the test scenarios, as well as any feedback on the DFS application they
used and the difficulties they encountered in using the platform.
Figure 4
Usability Research Participants and Digital Financial Services Tested
Usability Tasks Challenges
Usability Research Participants Digital Financial
Services Tested Buy Load Small font and
50 women constituents of: 88% Own mobile phones icon size
Send Money
68% Use agent-assisted
Confusing menus
and transaction
financial transactions Bills Payment
history views
- Personal mobile accounts Difficulty on
- Cooperative offered financial services in-app function
41% Household head navigation
(i.e. scroll, slide,
- Women were composed of employees,
drop down buttons)
housewives, entrepreneurs, and
retirees
Results and Findings. The usability report and the results were published in August 2018. The findings provided
insight on the specific challenges that women encounter in using DFS, which included issues on the application
interface, user experience and functionalities of the various platforms tested. The results of the tests informed a
set of DFS application interface design considerations, and it identified five persistent challenges to low-income
women’s usage that reemerged (as in previous studies conducted by Grameen) from the FGDs and post-test
interviews conducted:
1. Lack of trust in DFS combined with low levels of digital financial literacy and skills cause apprehension
towards adoption.
2. Limited range of transactions offered by DFS platforms due to lack of merchants and commercial
establishments accepting mobile money discourages regular usage of DFS.
3. Weak and intermittent network connection in certain rural regions make DFS unreliable at times.
4. Difficulty in setting up personal mobile accounts due to strict KYC and registration processes hinders
DFS uptake especially for those without identification documentation.
5. Insufficient tutorial on DFS interface and user experience is problematic for customers not used to
navigating through smartphone.
9 Grameen FoundationWhile improving usability of DFS is valuable in making the platforms more user-friendly, increasing adoption
goes beyond just iterating the interface and should focus on tackling the five issues mentioned above. In order
for technology uptake to happen, the women need to be able to realize the necessity of the product or service
being offered. This needs to happen alongside widespread usage of DFS platforms and digital transactions
from the merchants’ side by building a more conducive business environment for e-commerce to thrive. These
findings were valuable in informing subsequent activities of the WomenLink II Program and Grameen’s financial
empowerment endeavors. The findings were also compiled and communicated to the partners as well as the DFS
providers involved in the research to contribute in knowledge sharing and learning to improve the broader industry.
3.3 Digital Financial Literacy Development and Deployment
Based on the findings from the usability research, low-income women are hindered by low-levels of financial
literacy as well as a general lack of product awareness of what is currently available and relevant to their needs.
Most women have a vague notion of DFS but they do not fully grasp the value that these products and services
can bring them and so apprehension towards unfamiliar transaction channels like DFS still remain. To address this,
Grameen set out in June 2018 to pilot a SMS-based financial education program. The SMS content is designed to
deliver simple but actionable messages to deepen women’s understanding of DFS in an effort to galvanize uptake
by new customers and drive more transactions by current ones.
Messaging content and digital campaign development. Grameen designed the content of the financial literacy
messages and partnered with EngageSpark to set-up the distribution strategy of the messages. Targeting both
the low-level financial literacy of women in poor communities and the limited reliable and easily understandable
information on (digital) financial products and services available to them, the content messages created by
Grameen contained financial management advice as well as product information, specifically of FSP partners.
The financial management advice focused on giving actionable tips on household budgeting and reinforcing
healthy money management habits. The product information messages focused on providing easily understood
explanations of the basic types of financial products and services (i.e. savings, loans, and insurance), what
benefits they can reap from it, and how they can avail of these products.
Figure 5
WomenLink Financial Literacy Messaging Schedule
Financial Management Advice
LOAN
Welcome Loan Loan Finance ATM
Save Budget Budget
Message Management Repayment Tracking Management
SMS 1 SMS 3 SMS 5 SMS 7 SMS 9 SMS 11
June 21 June 22 July 10 August 14 September 10 October 10 November 10
SMS 2 SMS 4 SMS 6 SMS 8 SMS 10 SMS 12
June 29 July 23 August 23 September 23 October 23 November 23
Savings Time Loan Insurance Insurance or Loan EMV ATM
Account Deposit Products Product Release
Partner’s Product Promotion
Digital financial literacy campaign deployment. The program aimed to register a total of 40,000 women
between 2018 and 2019 and Grameen exceeded this target by 6% with a total of 42,592 women recipients
of SMS over the course of six months. There were 14 SMS sent to each of the participants delivered every two
weeks, with the content sent alternating between financial advice and product promotion. A total of 565,154
SMS were sent to participants within the first two years of WomenLink II.
Grameen Foundation 103.4 Phase I Monitoring, Evaluation, and Learning
Grameen conducted pre- and post-implementation surveys in order to learn and assess the effect of the digital
financial literacy campaign. The pre-test surveys were conducted in June 2018 and post-test surveys were
done six months after in December. The provision of SMS-based financial tips and reminders to women clients
continued until the second year of implementation of the program in 2019.
Key results and insights. Overall, there were modest shifts in behavior towards more conscientious budgeting,
as well as increase in uptake of financial products and services (including DFS) and these point to the potential of
appropriately messaged and delivered information to instill positive habits:
• Positive behavior change in saving habits. The practice of saving cash among the women grew by 30%.
Initially, 36% of the surveyed women were reportedly saving money but after the SMS campaign, 65% of the
women said they were trying to save regularly as a habit. Weighted average monthly savings of respondents
also rose by 142%. From being able to save PHP 711.85 (USD 13.69) a month, WomenLink II participants are
now saving an average of PHP1,012.50 (USD 19.47) monthly.1
• Uptake of digital financial products and services. Through the product promotion messages, the women
were able to receive information on mobile banking services offered by program partners. There was a
growth of 25% in the number of women paying bills through cooperative-affiliated agents. About 18% of the
surveyed women said they gained awareness of mobile money services through the SMS sent but they opted
not to download DFS applications to make the transactions themselves. Women’s preference for over-the
counter (or agent-assisted) transactions are reportedly due to force of habit.
• Positive perception of SMS financial information. WomenLink II participants’ reception of the digital
financial literacy campaign was overwhelmingly positive with 95% of the women responding that the
messages they received were useful and actionable. About 98% of the women said that they would
recommend the program to their neighbors, friends, or community. This is crucial because word of mouth
plays a vital role in improving the establishment of trust in financial products and services among poor
communities.
• Proximity of transaction points, high-touch engagement by FSP and success stories from peers are
critical trust-building factors. Lack of trust in DFS has been a salient deterrent to uptake and usage by
low-income individuals. Throughout the course of Phase I, several factors emerged to play a key role in client
trust building. The proximity of service providers to the community affects how quickly trust is built because
they are the clients’ primary source of financial information. The agent network model works effectively
in remote areas where agents can resolve their questions or doubts more quickly with the accessibility of
transaction points. Community-based institutions (i.e. MFIs, cooperatives) often have literacy programs that
supplement their suite of product offerings, as well as monitoring systems in place to ensure that clients
are managing product usage well (i.e. group accountability, weekly meetings, visits from agents). The more
proactive role these FSPs play in the financial lives of low-income women help build their capacity to take
charge of their finances and realize benefits from the financial products and services they avail. Aside from
FSPs, women’s peers within their communities or their social group also contribute to trust building. Low-
income women have limited opportunity to understand and develop trust in a financial product through their
own personal experience (i.e. due to limited funds and opportunity cost, long timeframe to see whether the
financial product is helping them achieve their financial goals). They instead look to their peers who have
had the chance to try out these products and services for feedback. They also put great stock in seeing
physical evidence of progress among their friends and neighbors (e.g. home improvement, new vehicles, and
expansion of small business). Testimonials of financial success from trusted community members, as well
as seeing the actual benefits they could reap from these products contributes greatly in the trust-building
process because it gives potential clients something tangible to aspire to.
1
Exchange rate as of 2018.
11 Grameen Foundation4. WomenLink II Phase II: Digital Agent Professionalization Training
4.1 Phase II Implementation Summary
The second phase of WomenLink II aimed to improve client trust in DFS by addressing supply-side gaps and
empowering agent networks. Once clients decide to start transacting via DFS, the most compelling case for
continuous DFS usage is a positive experience. The women agents serve as the client-facing entities that
represent financial service providers in low-income areas, and their ability to provide these services successfully
and reliably can transform the credibility and trust in DFS among unserved and underserved communities.
WomenLink II Phase II focused on the professionalization of DFS agents and equipped them with the necessary
tools and knowledge to deliver high-quality service to clients and drive continuous usage.
Figure 6
Phase II Implementation Summary
AGENT NETWORK PROFILE
MOBILE PHONE USAGE* OTHER INCOME SOURCES*
PROGRAM DFS BUSINESS 9%
Agents own a basic phone Sari-sari store owner 19 %
PARTICIPANTS 45% of agents’ businesses were established 91 %
Agents own smartphones Other microenterprise 48 %
within the last 5 years (2014 - 2019)
Regularly employed 33 %
AVERAGE AGE 55% of agents’ businesses were established MOBILE INTERNET USAGE**
38 YEARS within 2020 All Agents are mobile internet users
AGENT’S TRAINING HISTORY
Mobile data 38 %
TRANSACTION VOLUMES (AVERAGE AND TRAINING METHODS
MARITAL STATUS Household Wi-Fi 62 %
NUMBER PER AGENT PER MONTH) (PRIOR TO WOMENLINK II)*
61% MARRIED July 2019: 296.3
FINANCIAL PRODUCTS Received DFS Orientation 72 %
Jan-March 2020: 352 Training
EDUCATIONAL ATTAINMENT AND SERVICES OFFERED*
April-June 2020: 155.4 Received DFS Business 39 %
50 % Money remittance 18 %
college graduate Oct-Nov 2020: 80.63 Management Training
college undergraduate 24 % Utilities bills payment 21 %
12 %
Received in-person training 69 %
technical vocational 7% AGENTS’ FSP AFFILIATION Government fees
with FinTech Trainers
education 3% 1% Mobile airtime top-up 21 %
Received reading materials 13 %
high school graduate 16 % Action.Able
Financial services 19 %
training (i.e. handouts and
others 3% Digipay
(e.g. insurance, loans)
manuals)
36% Others (bank transfers, 10 %
60% Grab Philippines x Digipay Received training in the last 69 %
electronic gaming pins,
SECDEP x PayMaya two years
ticketing payments, etc.)
OBJECTIVE AND PROGRAM COMPONENTS
DURATION LOCATION LOCATION PROFILE* OBJECTIVE
Strengthen the business of community-based agent networks
71% of Agents from Urban Areas through agent professionalization delivered through digital
platforms to improve the credibility and viability of DFS agency
29% from rural/peri-urban areas businesses among low-income clients and communities
Jan 2019
to
Dec 2020 PHASE II PROGRAM ACTIVITIES
AGENT TRAINING CONTENT DEVELOPMENT
- Conducted qualitative research applying human-centered design
PAMPANGA (HCD) principles to determine module content for agent toolkit
BULACAN - Developed an agent manual (e-learning modules) as the primary
METRO MANILA & RIZAL source of education and reference for all agents offering digital
CAVITE QUEZON PROVINCE financial service
LAGUNA BATANGAS - Developed SMS campaign on business and financial tips for
CAMARINES SUR
agents
ORIENTAL
MINDORO BICOL DEPLOYMENT AND EXPANSION OF AGENT NETWORKS
- Onboarded 849 agents into the digital agent professionalization
AKLAN & training (modules and SMS)
ANTIQUE - Expanded agent networks in 2020 to include new cohorts of
ILOILO women agents
CEBU
COVID-19 RESPONSE LIQUIDITY SUPPORT IN 2020
- Supported 38 agents’ business by providing e-wallet cash
transfers of at least Php 5,000 or 104 USD*** for working capital
to sustain provision of DFS services during the pandemic
BUKIDNON
BUSINESS CASE RESEARCH FOR AGENT NETWORK MANAGEMENT
DAVAO CITY SERVICES
- Engaged volunteers from George Washington University, DC (GWU)
and Bankers Without Borders (BWB) to conduct desk research on
agent networks and explore the business opportunities for agent
network management services in the Philippines
DFS AGENTS RECEIVING KEY PARTNERS FINANCIAL SERVICE PROVIDERS AND OTHER BUSINESS PARTNERS
AGENT PROFESSIONALIZATION - St. Elizabeth Community Development Program (SECDEP), Inc.
- Grab Philippines
849 (379 agents in 2019 and 470 in 2020) FINANCIAL TECHNOLOGY PARTNERS
- Action.Able, Inc. - Developers of POSIBLE Box
- FSG Technology Ventures, Inc. - Developers of Digipay Application
- PayMaya Philippines, Inc. - Developers of PayMaya Negosyo Application
AGENT NETWORK RESEARCH PARTNERS
718 (85%) 131 (15%)
- George Washington University (GWU) Elliot School of International Affairs Students
- Bankers without Borders (BWB) Volunteers
are women are men
Grameen Foundation 12KEY RESULTS DIGITAL AGENT PROFESSIONALIZATION
Agents’ role in local DIGITAL TRAINING
10
Understanding the
Agent’s capacity to
communities to appropriate content that PLATFORM COHORTS Agent toolkit
provide financial addresses the most learning modules
11% 4%
allocate time for services is critical, pressing information and
learning modules as especially during the support needs of
SMS only
38 Agents received
well as the relevance lockdown period and FB only
different agents is crucial COVID-19 Response
of the information the new normal, but in capacity building FB + SMS
provided to them they need an array of among agents and making 31% 54% Liquidity Support worth
G-LEAP + SMS
determines the level support services for agent networks more Php 5,000
of usage of e-learning the sustainability of resilient. (USD 104)*** each
platforms. their business.
* Data from respondents of the 2019 baseline survey.
** Data from respondents of the 2020 survey.
***Exchange rate as of 2020.
4.2 Agent Training Content Development
The traditional way of onboarding and training agents is through orientation caravans and workshops organized by
agent network owners or fintechs. Mass training of agents entails substantial costs to organize and implement,
and participating agents incur some costs as they shoulder the travel expense to and from the venue. The costs,
as well as operational and logistics challenges, of this high-touch approach become more pronounced in rural
areas which often do not have a large enough number of agents to justify the training costs to be incurred. Hence,
these mass trainings tend to focus less on rural communities often underserved or unserved by DFS and other
financial services. To address this, Grameen developed learning modules that can be delivered remotely to these
areas using existing digital channels.
In order to develop the content of the agent learning modules, Grameen conducted agent interviews using a
human-centered design approach in order to gain a deeper understanding of the most pressing needs and
challenges they experience in using DFS platforms. Moreover, implementing partners participated in a roundtable
discussion to identify pain points in training and managing the agents. The insights gained from the agent
interviews and partner discussions were used to inform the development of the DFS Agent Toolkit Modules.
Table 2
DFS Agent Challenges
Lack of effective product and service marketing. Lack of knowledge on DFS products and services hamper product
push and marketing, consequently undermining the business potential of DFS for agents. Agents also reported they do not
actively engage in promotion and cross selling which are crucial for business sustainability and growth.
Mismanagement of liquidity. Agents often report difficulty in managing cash and e-money liquidity due to lack of
understanding of demand trends (i.e. high transaction volume and amounts during payday when remittances are often
conducted, or during end of month when bills payment are scheduled). This barrier is experienced more by DFS agents who
have no prior business background and are therefore lacking in training on business financial management.
Unreliable connection and technical issues. The issue of unreliable ICT infrastructures hindering business operations
are pronounced in rural and remote areas. Moreover, agents report they often need troubleshooting assistance when this
happens and the inaccessibility of technical support services and information discourages quick resolution of transaction
issues.
The WomenLink Agent Toolkit has ten modules intended to instruct agents on DFS business management, client
relationship management, product knowledge and marketing techniques, and standard operating procedures, as
follows:
Figure 7
WomenLink II Agent Professionalization Modules
MODULE What is this program about? MODULE How do I talk to my customers?
1 4
- Introduction to the program and its objectives - Product promotion strategies to customers
- Goal-setting
MODULE Who are my customers? MODULE How do I sustain my business?
2 5
- Understanding the needs of the community and - Tracking profit, loss and inventory
the importance of customer identification (ID) - Sound business management
MODULE What are my products? MODULE How do I expand my business? (Part 1)
3 6
- Review on procedures, troubleshooting and - Best practices in dealing with competition,
frequently asked questions legalizing the business, etc.
13 Grameen Foundation
MODULE How do I expand my business? (Part 2) MODULE How do I expand my network and market outreach?
7 9
- Understanding client and community needs - Leveraging social media, personal connections,
- Business model canvas worksheet organization membership to boost business
- Especially important in the context of COVID-19MODULE What are my products? MODULE How do I expand my business? (Part 1)
3 6
- Review on procedures, troubleshooting and - Best practices in dealing with competition,
frequently asked questions legalizing the business, etc.
MODULE How do I expand my business? (Part 2) MODULE How do I expand my network and market outreach?
7 9
- Understanding client and community needs - Leveraging social media, personal connections,
- Business model canvas worksheet organization membership to boost business
- Especially important in the context of COVID-19
lockdowns when foot traffic to stores have
MODULE What are good financial practices?
8
declined
- Influencing customers to adopt good financial
MODULE How do I adapt to changes that affect my
10
practices
agency business?
- Understanding of internal and external factors
that may affect the agency business
- Evaluation of resources, other business models,
and potential partners to adapt the agency
business
4.3 Digital Agent Professionalization Module Deployment and Network Expansion
Grameen used two digital learning platforms to deliver agent training: Facebook and the Grameen Learning
Application or G-LEAP, an Android application developed by the Grameen India and Philippine teams. Both platforms
contain the same set of learning materials but each has its own functionality. A WomenLink II Facebook group was
formed where DFS agents were given exclusive access to a collection of learning content that includes the Agent
Toolkit, other external references for additional reading, modules and instructional videos. Group members can
communicate among themselves through the forums and messaging functionality within the Facebook interface.
This provides them an easy avenue to discuss the modules, exchange ideas and share experiences that enrich
the learning environment within the platform. On the other hand, G-LEAP is a customizable mobile application
designed to equip various organizations (i.e. MFIs, cooperatives, or NGOs) with digital tools that enable agents and
frontline staff to perform their tasks in a time-efficient and cost-effective way. Grameen leveraged the e-learning
tools within G-LEAP in the deployment of the digital agent professionalization modules. Unlike Facebook, which
necessitates internet connection, G-LEAP allows agents to access learning content offline, and it also tracks
each learners’ progress and competencies. While Facebook allows for learning expansion through peer learning
and discussion, G-LEAP enables a more immersive individual learning with quizzes and performance tracking.
To complement the two e-learning platforms and capitalizing on the success of using SMS for information push
in Phase I (client-focused financial education), Grameen also developed short, actionable messages aligned
with the Agent Toolkit. The automated SMS for agents was co-developed with the program partners in order to
provide supplemental DFS-related information to reinforce learning. Grameen sent 13 messages to each agent
in 2019, which increased to 25 messages in 2020. The SMS contained business management advice, efficient
transaction tips, and client relationship management.
The modules were deployed in August 2019 and by the end of the year 379 women agents affiliated with Digipay
(24%) and POSIBLE (76%) were onboarded into the digital training platforms. This was expanded further in 2020
where 470 more agents were reached, including new women agents from newly formed cohorts (Grab x Digipay
and SECDEP x PayMaya) and new female and male agents from existing ones (Digipay and POSIBLE). The Grab x
Digipay cohort consisted of women relatives of Grab Drivers2 who lost their source of income due to the lockdown
measures brought about by the COVID-19 Pandemic. The SECDEP x PayMaya cohort consisted of women clients
of SECDEP (a microfinance institution) who were onboarded to use PayMaya Negosyo, a local online payment
platform managed by SMART Communications, one of the largest mobile network operators in the Philippines.
Agents were onboarded on different platforms to gain understanding of how different channels and interfaces
affect learning and digital training uptake.
Figure 8
Breakdown of WomenLink II Agents Onboarded in Each Platform
PLATFORM G-LEAP + SMS FB + SMS SMS ONLY FB ONLY TOTAL
DIGIPAY 6 44 191 61 302
POSIBLE 14 44 253 201 512
GRAB x DIGIPAY 5 6 14 0 25
SECDEP x PAYMAYA 10 0 0 0 10
TOTAL 35 94 458 262 849
2
Grab Holdings Inc., commonly known as Grab, is a Singaporean multinational ride-hailing company that operates in the Philippines. In addition to
transportation, the company offers food delivery and digital payments services via a mobile app.
Grameen Foundation 144.4 COVID-19 Liquidity Support
COVID-19 impact on agent businesses. The final year of WomenLink II was met by an unprecedented challenge
with the spread of the COVID-19 pandemic, which has affected not only the implementation of program activities
by Grameen but more so the business operations of the agents. The Philippine Government enforced a two-and-
a-half month Enhanced Community Quarantine (ECQ) in March 2020 for the entire Luzon Region. The lockdown
measures, while necessary, brought drastic economic losses that affected employment, production, and
consumption. Agents’ businesses and their other microenterprises have experienced the negative effects of
the lockdown restrictions including:
• Loss of income source. About 23% of agents reported they had to close down their microbusinesses (i.e.
sari-sari stores) as part of mandatory lockdowns.3 Agents’ households were generally affected with 60%
reporting having lost an income stream because a household member was affected by retrenchments, either
through permanent unemployment, temporary work suspension, or salary cuts.
• Inability to provide certain services due to illiquidity and inability to rebalance. Agents’ movements
were restricted not only because of the community quarantine measures in place but because they had
to prioritize their families’ health and safety as well. About 42% of agents live with immunocompromised
individuals such as senior citizens, children, and relatives with pre-existing illnesses. Agents avoided going
out to rebalance their wallet in banks or payment centers as this poses a risk to more vulnerable family
members.
• Lack of sufficient capital to stay in business. Some agents had to re-allocate business funds for personal
use or to sustain other business ventures, which are more profitable compared to the agency business.
Before COVID-19, there was an increase in the number of clients and volume of transactions reported by
agents however, this drastically declined during and after the lockdown measures. Consequently, reported
incomes also slipped down during the lockdown period. Within 2020, 70.2% of agents reported that their
DFS income is below Php 5,000 (USD 104)4 in March (pre-COVID-19 lockdown) and this percentage grew to
82.1% in June (during COVID-19 lockdown).5 Agents were able to offer only a limited array of services during
the pandemic and they focused on top-up credits (61%), bills payment (56%), and money remittance (40%)
as these are the staple services, which retained demand during the pandemic.6
Table 3
Self-Reported Transaction Volume and Customer Count by DFS Agents7
Period 2019 2020
Self-reported transactions and client count Pre-lockdown Pre-lockdown During lockdown
(July) (March) (June)
Average number of DFS transactions conducted in the past 296 352 155
month
Percentage change in transaction volume 18.9% - 55.9%
Average number of DFS customers serviced in the past month 147 236 83
Percentage change in customer count 60.5% - 64.8%
Even as lockdown restrictions have gradually lifted, there has only been a slight uptick in transactions. While on
the supply side (agents’) the decrease in transactions is due to a confluence of reasons such as lack of capital
and business shutdowns, demand side factors also contributed to this decrease with the government mandating
moratorium on fees and bank loans.xvii The Bayanihan Laws were passed to provide government more control
to address the health as well as economic repercussions of the pandemic, part of which are a 60-day grace
period on loan payments, a 30-day moratorium on utility bills (electricity, water, telecommunications, etc.), and
the implementation of staggered payment scheme for utilities allowing consumers to settle their bills in three
monthly installments without penalties or interest.
3
Data reported by the 38 COVID-19 liquidity support recipients.
4
Exchange rate as of 2020.
5
Reported by Y2 agents who participated in the baseline study in July 2019 and the endline study in July 2020
6
Data reported by the 38 COVID-19 liquidity support recipients
7
In compliance with the Data Privacy Act in the Philippines, the data on the number of transactions and earnings of the agents are all self-reported. Figures
were reported by Y2 agents who participated in the baseline study in July 2019 and the endline study in July 2020
15 Grameen FoundationYou can also read
